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Wealth is not income though. Higher wealth taxes would go a long way but then you again have the problem of the wealthy simply moving their wealth out or not br
by sidww2 13y ago
Wealth is not income though. Higher wealth taxes would go a long way but then you again have the problem of the wealthy simply moving their wealth out or not bringing it to the high-tax country in the first place.
- zanny 13y ago> the problem of the wealthy simply moving their wealth out I could easily see any nation trying to implement higher taxes on the rich to also implement a wealth export tax that takes a tremendous portion of their accumulated wealth if they try to jump ship and take it overseas. > not bringing it to the high-tax country in the first place. This is the larger concern, but if a society can't survive without the good graces of the lucky rich, it is already their slaves.
- richardwhiuk 13y agoThe IMF is talking about global monetary policy - if all countries did implement tax on high net wealth individuals, then it could have an impact. Or they can penalize countries who operate tax havens - it's not like tax havens represents a significant amount of either trade or GDP.
- jellicle 13y agoAs so many hackers have found out, it doesn't matter where the money is. It matters where YOU are.